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In spite of record-breaking markets in the face of a record-breaking economic and social calamity, the honest truth is that most of the “good” business news coming out of the coronavirus pandemic is frankly a little depressing: Booming biohazard mask makers. The socially-isolated profiting from those also socially-isolated. Stays of hoped-for execution for executives. Taking advantage of the stupid. Great results unlikely to be repeated. The proposed transformation of formerly great American companies to combat COVID. Fantastic learning experiences for CFOs.

But who could possibly find something unpleasant in this little exclamation point on just how little nearly 800,000 dead and a near-total global economic shutdown have affected those making bank on the bewildering stock market rally?

Blade, the chopper and mobility company, announced a special “Hamptons Commuter Pass” last week, offering daily helicopter flights between the Hamptons and New York City. For a one-time membership fee of $965, customers can get flights for $295 each way. Typically, the flights cost $795.

Typically, Blade’s business to and from the Hamptons falls by 80% in September, as Hamptonites return to their jobs and lives in the city. But Blade’s September promotion sold out of all 250 spots in less than than 24 hours….

Wiesenthal said that while 250 people isn’t a large number for Manhattan, they are among the biggest spenders, and won’t be supporting their usual restaurants, retailers and services in the city at a time when small businesses need help most. He said that when Blade surveyed new customers about why they’re not going back to the city, they cited schools, remote work and the rising crime rate in the city.

Wealthy New Yorkers plan to commute by private chopper from the Hamptons this fall [CNBC]



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